I tested below code and its working. Compare what is wrong at your end
LoadLibrary(L"Msftedit.dll");
hEdit2 = CreateWindowEx(WS_EX_CLIENTEDGE,
L"RICHEDIT50W",
L"My Rich Edit",
WS_VISIBLE | WS_BORDER |
WS_CHILD |
ES_MULTILINE | WS_EX_RIGHTSCROLLBAR | WS_VSCROLL | WS_SIZEBOX,
500, 30,
500, 500,
hWnd,
0,
GetModuleHandle(NULL),
NULL);
SetWindowText(hEdit2, L"This is Hello World");
FINDTEXTEX ft;
CHARRANGE ch;
ch.cpMin = 0;
ch.cpMax = -1;
ft.chrg = ch;
ft.lpstrText = L"Hello";
nIndex = SendMessage(hEdit2 , EM_FINDTEXTEX, FR_DOWN, (LPARAM)&ft);